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Manila Bulletin devider Philippines devider National devider DMW, Landbank ink pact to facilitate OFW labor claims from Saudi Arabia

DMW, Landbank ink pact to facilitate OFW labor claims from Saudi Arabia

Published Mar 2, 2024 02:31 am

saudi labor claims.jpg

The Department of Migrant Workers (DMW) has facilitated the processing of the claims for thousands of overseas Filipino workers (OFWs) who lost their jobs after their employers Saudi Arabia were forced to cease the operations due to bankruptcy as a result of a financial crisis. 

DMW officer-in-charge Under Secretary Hands Leo Cacdac said the department has partnered with the Landbank of the Philippines to expedite the processing of the checks issued by the Saudi government to cover unpaid wages, benefits, and other claims. 

It was almost a decade of battle for thousands of displaced Overseas Filipino workers which was finally resolved when Saudi Crown Prince Mohammed Bin Salman promised to President Ferdinand R. Marcos Jr. to address the issue during their meeting on the sidelines of the ASEAN Leaders Summit in Bangkok, Thailand in November 2023. 

During the meeting, the Saudi Arabian Crown Prince informed President Marcos that the Saudi government was setting aside a fund worth SR2 billion Saudi riyals (approximately P30 billion pesos) to cover the unpaid wages, benefits, and other claims of thousands of migrant workers.

The affected Filipino workers include over 10,000 OFWs affected by the financial crisis that gripped Saudi Arabia in 2015 and 2016. 

In November last year, the Alinma Bank of Saudi Arabia started its distribution of checks to displaced Saudi OFWs with amounts representing the total value of their claims. 

The signing of the Memorandum of Agreement marks a significant milestone and development toward resolving the issue of unpaid wages, claims, and other benefits due to thousands of displaced OFWs,” said Cacdac.

There are three main provisions of the MOA, one of them is the collaboration between the DMW, Landbank, and OFBank to minimize the bureaucratic hurdles and expedite the release of funds to verified Saudi OFW claimants. 

Under the arrangement, claimants are encouraged to open accounts in either Landbank or OF Bank which shall serve as the financial conduits for processing their checks and receiving their money. 

The second key provision specifically addresses the needs of the heirs of OFWs who have already passed away. 

“The DMW among others will assist in identifying the heirs of deceased Saudi OFW claimants, endorse their claims checks, and guarantee the payment and release of the amounts involved,” the agreement stated.

“Landbank and OFBank, meanwhile, shall provide the necessary banking services and solutions to facilitate the servicing of the OFW claimants,” it added.

The third key provision involved financial education, literacy, and services facilitation.

It stated that the three agencies shall collaborate to provide OFW clients with the necessary information in processing their respective claims as well as upgrade their financial knowledge to manage and nurture their long overdue, hard-earned financial resources. 

Related Tags

Overseas Filipino Workers (OWFs) DMW Saudi Arabia
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